Bears’ momentum increase in BNB market
BNBUSD Price Analysis: 04 April
If buyers can hold onto the $606.1 support level and break above the $642.3 resistance level, they might be able to drive the price to test the $662.0 and $685.0 resistance levels. If BNB can break through the crucial $606.1 barrier, it should target the previous lows of $585.9 and $557.7.
Key levels:
Supply levels: $606.6, $642.3, $662.0
Demand levels: $585.9, $557.7, $537.0
BNBUSD Long-term Trend: Bearish
The BNBUSD chart shows a bearish trend every day. On December 9, the cryptocurrency’s price peaked even more, from $557.7 to $662.0. As the bears’ power grew, they overcame some opposition and burst through the previously described barrier. Selling dominates the market, as evidenced by BNB’s most recent drop below $585.9. There were indications of a negattive trend continuation. In line with the downward trend, the price’s most recent flip at $557.7 suggests that purchasers might accept a lower offer.
The price of the BNBUSD is presently declining below the crypto currency indications, according to the Hull Suite FX indicators. Buyers may be able to push the price to test the $642.3 and $662.0 resistance levels if they can hold onto the $585.9 support level and break above the $606.6 resistance level. If BNB can break through the crucial $585.9 barrier, it should target the previous lows of $557.7 and $537.0.
BNBUSD medium-term Trend: Bearish
Over the next four hours, the coin’s favorable impacts can lead to a lose in the price of BNBUSD. After testing at $606.6, the BNB began to decrease. On March 25, we discovered that a total of $642.3 had been paid. The bears’ rage caused the price to flip below the goal level. Yesterday, the lowest price was $585.9. The price may test $557.7 today.
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